LEVANT: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
LEVANT
Largest movements
- Current investments -€197,585
down €197,585 (-80.1%), from €246,523 to €48,938
- Cash +€171,851
up €171,851 (+360.5%), from €47,670 to €219,521
mainly Current investments (+€197,585) and Depreciation (+€37,164)
- Tangible fixed assets -€37,164
down €37,164 (-3.2%), from €1.2m to €1.1m
of which Land and buildings: -€36,395
- Debts after one year -€34,278
down €34,278 (-7.7%), from €448,027 to €413,748
- Other debts -€23,199
down €23,199 (-6.2%), from €376,878 to €353,679
- Gross operating margin +€39,442
up €39,442 (+183.6%), from €21,488 to €60,930
- Financial income -€11,001
down €11,001 (-74.4%), from €14,781 to €3,780
- Depreciation -€2,792
down €2,792 (-7.0%), from €39,957 to €37,164
- Financial charges +€2,654
up €2,654 (+16.1%), from €16,525 to €19,179
- Other operating charges +€1,657
up €1,657 (+11.6%), from €14,250 to €15,907
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,473,245 | €1,408,883 | -€64,363 | -4.4% |
| Fixed assets | 21/28 | €1,172,588 | €1,135,424 | -€37,164 | -3.2% |
| Tangible fixed assets | 22/27 | €1,172,588 | €1,135,424 | -€37,164 | -3.2% |
| Land and buildings | 22 | €1,164,895 | €1,128,500 | -€36,395 | -3.1% |
| Plant, machinery and equipment | 23 | €7,693 | €6,924 | -€769 | -10.0% |
| Current assets | 29/58 | €300,657 | €273,459 | -€27,198 | -9.0% |
| Amounts receivable within one year | 40/41 | €1,886 | - | -€1,886 | |
| Other amounts receivable | 41 | €1,886 | - | -€1,886 | |
| Current investments | 50/53 | €246,523 | €48,938 | -€197,585 | -80.1% |
| Cash at bank and in hand | 54/58 | €47,670 | €219,521 | +€171,851 | +360.5% |
| Deferred charges and accrued income | 490/1 | €4,578 | €5,000 | +€422 | +9.2% |
| Total equity and liabilities | 10/49 | €1,473,245 | €1,408,883 | -€64,363 | -4.4% |
| Equity | 10/15 | €486,871 | €483,128 | -€3,744 | -0.8% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Capital | 10 | €63,000 | €63,000 | = | 0.0% |
| Issued capital | 100 | €63,000 | €63,000 | = | 0.0% |
| Reserves | 13 | €497,150 | €485,971 | -€11,179 | -2.2% |
| Non-distributable reserves | 130/1 | €53,800 | €53,800 | = | 0.0% |
| Legal reserve | 130 | €53,800 | €53,800 | = | 0.0% |
| Tax-exempt reserves | 132 | €331,929 | €320,750 | -€11,179 | -3.4% |
| Distributable reserves | 133 | €111,421 | €111,421 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€73,279 | -€65,843 | +€7,435 | +10.1% |
| Provisions and deferred taxes | 16 | €125,966 | €121,650 | -€4,316 | -3.4% |
| Deferred taxes | 168 | €125,966 | €121,650 | -€4,316 | -3.4% |
| Amounts payable | 17/49 | €860,408 | €804,105 | -€56,304 | -6.5% |
| Amounts payable after more than one year | 17 | €448,027 | €413,748 | -€34,278 | -7.7% |
| Financial debts | 170/4 | €448,027 | €413,748 | -€34,278 | -7.7% |
| Amounts payable within one year | 42/48 | €410,382 | €388,357 | -€22,025 | -5.4% |
| Current portion of amounts payable after more than one year | 42 | €33,504 | €34,278 | +€774 | +2.3% |
| Trade debts | 44 | - | €286 | +€286 | |
| Suppliers | 440/4 | - | €286 | +€286 | |
| Taxes, remuneration and social security | 45 | - | €114 | +€114 | |
| Taxes | 450/3 | - | €114 | +€114 | |
| Other amounts payable | 47/48 | €376,878 | €353,679 | -€23,199 | -6.2% |
| Accrued charges and deferred income | 492/3 | €2,000 | €2,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,957 | €37,164 | -€2,792 | -7.0% |
| Other operating charges | 640/8 | €14,250 | €15,907 | +€1,657 | +11.6% |
| Gross operating margin | 9900 | €21,488 | €60,930 | +€39,442 | +183.6% |
| Operating profit (loss) | 9901 | -€32,719 | €7,858 | +€40,578 | |
| Financial income | 75/76B | €14,781 | €3,780 | -€11,001 | -74.4% |
| Recurring financial income | 75 | €14,781 | €3,780 | -€11,001 | -74.4% |
| Financial charges | 65/66B | €16,525 | €19,179 | +€2,654 | +16.1% |
| Recurring financial charges | 65 | €16,525 | €19,179 | +€2,654 | +16.1% |
| Profit (loss) for the period before taxes | 9903 | -€34,464 | -€7,541 | +€26,923 | +78.1% |
| Transfer from deferred taxes | 780 | €4,316 | €4,316 | = | 0.0% |
| Income taxes | 67/77 | €491 | €518 | +€27 | +5.5% |
| Profit (loss) for the period | 9904 | -€30,640 | -€3,744 | +€26,896 | +87.8% |
| Transfer from tax-exempt reserves | 789 | €11,179 | €11,179 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,460 | €7,435 | +€26,896 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.